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It’s a busy day for Saudi Arabia in the international foreign press, with a quick industry pulse from the Alfred Dunhill Links Championship at Carnoustie Golf Links in Scotland on the progress of a potential PIF investment in PGA tour Enterprises, courtesy of the Economist.
A PIF-PGA agreement is likely before year-end: PIF Governor Yasir Al Rumayyan and PGA Tour commissioner Jay Monahan played together in the first round of the Alfred Dunhill Links Championship in Scotland, signaling a possible easing of tensions in golf. Their pairing comes as the PGA Tour explores a potential USD multi-bn investment ticket from the PIF into PGA Tour Enterprises.
Industry sentiment: PGA golfer Billy Horschel expressed skepticism about discussing the agreement during the round, acknowledging the complexities involved. Meanwhile, PGA Tour star Rory McIlroy called the pairing a “step in the right direction” and expressed hope for a deal by year-end, emphasizing that significant transactions take time to finalize.
Saudi could cause a dent to Russia’s war purse if it decides to ramp up oil production: Faced with lack of compliance to production cuts among OPEC+ partners and has shown signs that it is willing to ditch an unofficial USD 100 per barrel price target, Saudi could move to ramp up production in a grab for market share, Politico reports. This spells trouble for Moscow which relies on oil for up to half of its national budget and to bankroll its ongoing war in Ukraine.
